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A-6.001, r. 3 - Regulation respecting borrowings made by a body

Section 3
Disposition versions

Full text
3. The authorization of the Minister of Finance is not required for a borrowing of less than $20,000,000 contracted by a university establishment for the carrying out of a capital project that is not subsidized under the University Investments Act (chapter I-17).
No university establishment may split or segment its procurement requirements or change a borrowing or capital project to be exempted from the obligation to obtain the authorizations provided for in the Act.
If a borrowing groups together more than one capital project for an amount equal to or greater than $20,000,000, the establishment must obtain the authorization of the Minister of Finance.
O.C. 955-2008, s. 3.
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